Highlights
ByteDance was reportedly valued at $250 billion in the private market
In 2020, TikTok was facing its most challenging time.
TikTok’s parent company ByteDance founder Zhang Yiming has become one of the richest men in the world, despite the firm s cashing cow TikTok remaining in hot soup throughout last year.
According to the Bloomberg Billionaires Index, he is worth $60 billion and is as rich as Chinese bottled-water king Zhong Shanshan and the Walton and Koch families in the US.
Yiming s sudden accumulation of wealth has come after ByteDance was reportedly valued at $250 billion in the private market.
Beating all odds